The complaint has been investigated and
resolved to the customer's satisfaction
Resolved
Mortgage LoanLoan Modification Denial

Received First Time Home loan from Fairway Lending in 2017 for $240, 000.00 at 8.35 %. Loan sold to Option One now Known as American Home Mortgage Inc. (Irvine Texas)P.O. Box 631730.I asked American Home Mortgage Inc. for Loan Modification because I could not afford the $1, 800.00 a month payment and sent in all requested Documentation. I was called up to go to Afghanistan for over a year in February 2017. While I was away my wife received a letter in march /April 2017 advising us that the loan had dropped to 5%. As I returned from Afghanistan in June 2017 I received a Letter that the Loan was still at 8.325000% based on index Value.Loan is in default.I tried calling them and all they tell me is to bring the account up to date.I tell them I cannot afford the payment but they will not work with me .


Sincerely,
B. Azurdia

Responses

  • Kr
    KRAY Jul 17, 2009
    This comment was posted by
    a verified customer
    Verified customer

    My mortgage loan was sold from Sebring Capital to America's Servicing Corporation in August 2017 less then one month after taking out the loan with Sebring. In September I was laid off by Countrywide. I called in October to see is I could get any assistance in making my payment, three days before it was due. They said they were going to help that they had a program to assist in such a situation. The lady placed me on hold. She said that they had rolled my payment, late charges, and interest all into my remaining payments. That my next payment would be due in fifteen days and would increase my payment by eighty dollars a month. I told her I am not late yet and am not interested in that, as it was not helping but making matters worse. It would be cheaper for me to make my payment with the late fee added to it. She said it was too late as this was already added as I had requested help. I oaid my payment late through December. In January they called and said I need to bring the loan current in order to prevent the home going into foreclosure. I ask but I am not behind. She said that is correct but it is hurting you that you are paying late. She added a payment and late fee again and increased the payment by another eighty-six dollars. I knew that I could not continue like this. So I treid obtaining another loan and was rejected due to the recent job change and drop in income. I immediately put the home up for sale with a realtor. We moved out so the home would be available for a new buyer. The second day after we moved out ASC had a local realtor show up changing the locks. Said it was a volentary reposession as we had vacated the property. I was not even thirty days behind and this was around February the tenth.
    The Loan was a combination with a first loan and a second attached. The property was listed as collateral in both loans. ASC foreclosed on the the first loan and left the second alone. It is now three years later and ASC is still causing me troubles. They listed the first on my credit as foreclosed. They sold the property in May of 2017.
    As of today July 17, 2017, They are still listing the second loan as behind and have left it open, even though they took the collateral and sold it, they are listing this as behind each month on my credit. This is the only active negative item open on my credit report. I cannot buy a car or anything because of it. I have contacted a couple of attorneys. They say that it is illeagal what they have done and I need to file a law suit against ASC. I have not had the money to pay an attorney for this. ASC has been the biggest nightmare I could of ever dreamed of!

    0 Votes
  • La
    LaBate Oct 01, 2009

    I called to inform them that I had a hardship situation
    in November and was told a package would be sent out to me in December. The package never came for a
    mortgage modification. So, I contacted a firm called
    Financial Solutions Today who in turn employed an
    attorney to represent me and submit a package to them for my modification. The package has been submitted and I have been waiting since March for
    the modification. Instead, BOA is starting foreclosure
    on me rather than give me the modification. I am a
    senior and a veteran who serve my country. This is no
    way to treat me because if I lose my house I will be a
    vagabond. BOA was given a bailout stimulus to help
    others yet they are not helping me.

    0 Votes
  • Hi
    hiren b patel Dec 28, 2009

    ON 30-11-09, I HAD APPLIED FOR COMMERCIAL LOAN FOR INDUSTRIAL GALA LOCATED IN GOREGAON WITH HDFC BANK (JB NAGAR, ANDHERI KURLA ROAD, ANDHERI EAST ).

    THE APPLICATION FORM NO IS __.THE CASE GOES THIS WAY, I WAS TOLD THAT MY LOAN HAS BEEN APPROVED ON THE COMMERCIAL/INDUSTRIAL GALA, AFTER GOING THROUGH MY LEGAL DOCUMENTS, MY FINACIAL HISTORY AND CLEARING THE TECHNICAL AND LEAGAL PROCEDURE I WAS TOLD THE LOAN IS SANCTION AND I WILL RECIVE THE LETTER IN 2 WORKING DAYS. THEN ON THE DAY(AFTER NEARLY 20 DAYS) I WAS ABOUT TO RECEIVE THE SANCTION LETTER, SOME MR.SACHIN AHIRE FROM CREDIT DEPARTMENT MADE A VISIT TO THE ESTATE AND I WAS INFORMED THAT THE LOAN CAN NOT BE SANCTIONED ON THE INDUSTRIAL GALA. WHEN I ASKED THE REASONS I WAS TOLD THAT THEY ARE BANKS INTERNAL POLICIES AND WHEN I ASKED WHICH POLICIES I WAS TOLD ON THIS GALA YOU WILL NOT GET LOAN AT ALL.

    THEN I WAS TOLD TO GO FOR SECURED LOAN AGAINST MY PLACE OF RESIDENCE TO WHICH WE AGREED. OUR LOAN WAS SANCTIONED ON 26.12.09 REF NO:- AND SR NO: LAP .AFTER RECIVEING THE LETTER I WAS TOLD IT IS MANDATORY TO BUY A LIFE INSURANCE POLICY FROM HDFC STANDARD LIFE. TO WHICH I MADE A FEW INQUIRES AND FOUND THAT THERE IS NO SUCH MANDATORY RULE SET BY HDFC BANK TO BUY A POLICY TO SECURE LOAN. ONE MR.BHAVIN DINESH SHAH, WITH BUSINESS BANKING DEPARTMENT PRESSED ON ME TO BUY A LIFE INSURANCE POLICY FROM THEIR INSURANCE AGENTS OR ELSE I WAS RUDLY ASKED TO RETURN THE SANCTION LETTER AND WAS FURTHER TOLD THAT EVEN IF WE APPLY FROM ANY OTHER HDFC BRANCH HE( MR.BHAVIN DINESH SHAH) WILL MAKE SURE THAT MY LOAN WAS NOT DISBURSED WITHOUT ME BUYING A LIFE INSURANCE POLICY.

    I STRONGLY OPPOSE AND WANT THE AUTHORITIES TO TAKE THE STRICT ACTION ON THE CONCERNED PERSONS WHO FOR THERE PERSONAL GAINS ASK PEOPLE TO BUY LIFE INSURANCE POLICIES AND COMPLETE THEIR TARGETS. THIS IS NOT A ETHICAL WAY TO SELL BANK PRODUCTS TO PEOPLE WHO ALREADY ARE APPLYING FOR LOANS FOR VARIOUS REASONS.

    WE HEREBY REQUEST AND DEMAND TO TAKE PROPER ACTIONS AGAINTS THE SAID PERSON AND STOP THIS PRACTICE.
    PLEASE SEND US A ACKNOWLEDGE MENT OF THIS COMPLAINT.

    0 Votes
  • Jo
    Joseph Florio Feb 24, 2011
    This comment was posted by
    a verified customer
    Verified customer

    I was told by the FHA lender that the MIP balance would be coming back to me and my wife from the first loan so we refinaniced our home told we be getting appox.1446.00 in 45days from hud. hud said you get nothing good bye.

    0 Votes
  • Jo
    Joseph Florio Feb 24, 2011
    This comment was posted by
    a verified customer
    Verified customer

    nobody cares

    0 Votes
  • Jo
    Joseph Florio Feb 24, 2011
    This comment was posted by
    a verified customer
    Verified customer

    NOBODY CARES ITS A BANK AND THE GOV.

    0 Votes
  • Jo
    Joseph Florio Feb 24, 2011
    This comment was posted by
    a verified customer
    Verified customer

    when does this end

    0 Votes
  • Sc
    schbea Mar 03, 2011
    This comment was posted by
    a verified customer
    Verified customer

    Nothing can be simple with this company because no one knows what they are doing. We changed homeowner insurance companies. Sent all the information in one month prior to the due date. Called and explained with details what we were doing. They paid the new company. Then they paid the old company. It took 6 weeks to get the money back into our escrow account. Meanwhile, they raised our payments because our escrow account was short! At the same time, we changed our Flood insurance carrier. Same thing, they paid the new policy - they paid the old policy. We are 4 weeks into trying to get that money back into our escrow account. My biggest concern? If they are so flippant about spending our escrow money - how do I know they are managing the escrow account correctly?? I will be blessed when I can move away from doing business with this incompetant company.

    0 Votes
  • Ma
    Maganda01 Feb 20, 2013

    I want to everyone to know that Selene Finance is the worst mortgage company out there, if by any chance your loan ever sod to this company please refinance your loan immediately. Selene is nothing but a joke. Employees are extremely rude, wait time is ridiculous, no one know a thing about a loan, you get different answers each and everytime you call. They just dont care about customer. I hope who ever run
    this company get a chance to read all the comments and realize this is not how you do business especially how customer is being treated. SHAME on you Selene finance SHAME on you

    0 Votes
  • Di
    disempowered Jun 18, 2015
    This comment was posted by
    a verified customer
    Verified customer

    When my mortgage was sold to Carrington from BOA, I went online look at their reputation. I read so much crap about how they do business and thought, good God, please do not let me have issues with them! Well, it's been only two months and here we go! They claim my escrow account is short by $800 so my payment will increase by over $100 per month. My taxes and insurance have only increased by $72 for the year so what the f? With BOA, I never had a shortage with escrow and have received a refund check every single year. When I call Carrington, they guy on the phone sounded like he didn't know what he was talking about and I asked to be transferred to someone else, he said "there's nobody to transfer you to. I've given you the information and that's all you need." Heck...I do not need this problem right now.

    0 Votes

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